Long

Will TRX Hold Above $0.2466 or Drop to $0.18 Before a Rally?

The chart on the 1W timeframe maintains a bullish structure despite the recent retracement. The EMA ribbon remains upward-sloping, and the price is showing signs of rejection from this zone, reinforcing the broader uptrend.

Two potential entry zones stand out for a continuation to the upside. The first is $0.2466, aligning with the golden Fibonacci retracement zone, a key level where buyers may step in. The second is $0.18, a significant support level where the price previously broke through a major historical high. Both areas offer favorable setups targeting $0.45, the next major resistance level.

The market’s reaction at these key levels will determine the next move. A strong bounce could confirm a continuation toward $0.45, while a breakdown of these supports could shift the momentum.

👨🏻‍💻💭 Which entry do you favor? Will TRX hold above $0.2466 or revisit $0.18 before its next leg up? Let’s discuss your outlook!
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Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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